GOING AHEAD: Developers Tony Herbert, Brendan Howard, and Tom Lindsay at the industrial development in Horne Road, Warrnambool in 2015. Picture: Rob Gunstone
THE south-west has enjoyed a building boom in 2015, including more than $62millionworth of developments in Moyne Shire.
Warrnambool City Council, Moyne Shire and CorangamiteShire’s planning departments enjoyed a busy year, with figures showing an increase in the number of building applications across the region compared with2014.
Moyneissued 341 residential building permits in 2015, nine more than the previous year.
Theestimated development costs for 2015 were$47.4million compared with$36.8million.
The commercial and industrial sector also grewwith 53 building permits issued, compared with47 in 2014.
The estimated cost for commercial building developments last year was $15.8million.
Director ofsustainable development Oliver Moles said building permit growth matched growth in planning permits.
“We’re happy,” he said.
“We have good employment and good investment in Moyne.
“I’ve been told by my planning manager Peterborough applications have gone up.”
The value of total building approvals for new residential and non-residential buildings is a leading indicator for building activity.
Over the past decade, Warrnambool has averaged more than$100 million in new building activity each year and in 2015 recorded $116million.
Corangamite Shire did not have 2015 figures available, however economic development and tourism manager Michael Emerson said there had been a definite increase.
“The value of our building permits is up 28 per cent,” he said.
“It’s an indication of what has been a strong year for residential. It would be up on 2014.”
Figures from theAustralian Bureau of Statisticsreleased on Wednesday showed the value ofbuildingwork across the stateincreased 2.1 per cent during the September quarter and was up 13.8 per cent for the year.
Acting treasurerGavin Jennings saidthe Victorian economy was continuing to perform well.
“Consumer confidence plays a vitally important role in driving economic growth and translates into increased household spending, increasedbuildingactivity, and increased service delivery,” Mr Jennings said.
This story Administrator ready to work first appeared on Nanjing Night Net.